Bridge City Capital LLC Purchases 19,507 Shares of Neogen Co. (NASDAQ:NEOG)

Bridge City Capital LLC increased its stake in Neogen Co. (NASDAQ:NEOG) by 6.4% during the fourth quarter, according to its most recent filing with the SEC. The fund owned 326,437 shares of the company’s stock after buying an additional 19,507 shares during the quarter. Bridge City Capital LLC owned 0.15% of Neogen worth $3,963,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Connable Office Inc. lifted its holdings in shares of Neogen by 5.6% in the fourth quarter. Connable Office Inc. now owns 18,793 shares of the company’s stock worth $228,000 after buying an additional 1,000 shares in the last quarter. Inspire Advisors LLC increased its holdings in shares of Neogen by 10.1% in the fourth quarter. Inspire Advisors LLC now owns 14,226 shares of the company’s stock worth $173,000 after buying an additional 1,304 shares during the period. Blue Trust Inc. boosted its stake in shares of Neogen by 196.7% during the fourth quarter. Blue Trust Inc. now owns 3,368 shares of the company’s stock valued at $41,000 after purchasing an additional 2,233 shares during the period. Harbour Investments Inc. bought a new stake in Neogen in the 4th quarter worth $27,000. Finally, Commonwealth Equity Services LLC increased its holdings in Neogen by 6.1% during the 4th quarter. Commonwealth Equity Services LLC now owns 39,263 shares of the company’s stock valued at $477,000 after purchasing an additional 2,267 shares during the period. 96.73% of the stock is owned by institutional investors.

Insider Activity at Neogen

In related news, CEO John Edward Adent purchased 23,035 shares of the business’s stock in a transaction that occurred on Thursday, January 16th. The stock was purchased at an average price of $11.03 per share, with a total value of $254,076.05. Following the completion of the acquisition, the chief executive officer now owns 269,164 shares in the company, valued at $2,968,878.92. This trade represents a 9.36 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO David H. Naemura bought 14,800 shares of the firm’s stock in a transaction on Thursday, January 16th. The stock was purchased at an average price of $11.11 per share, for a total transaction of $164,428.00. Following the completion of the acquisition, the chief financial officer now directly owns 61,434 shares in the company, valued at $682,531.74. The trade was a 31.74 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.13% of the stock is owned by company insiders.

Analyst Ratings Changes

NEOG has been the topic of a number of recent research reports. Guggenheim initiated coverage on shares of Neogen in a report on Thursday, December 19th. They issued a “buy” rating and a $15.00 price objective on the stock. Piper Sandler reissued a “neutral” rating and set a $13.00 price objective (down from $16.50) on shares of Neogen in a report on Tuesday, January 21st.

Neogen Stock Down 1.3 %

Shares of NASDAQ:NEOG opened at $8.85 on Friday. The business has a 50 day simple moving average of $10.46 and a two-hundred day simple moving average of $12.98. The firm has a market capitalization of $1.92 billion, a PE ratio of -4.04 and a beta of 1.27. The company has a debt-to-equity ratio of 0.33, a current ratio of 3.77 and a quick ratio of 2.46. Neogen Co. has a 1 year low of $8.60 and a 1 year high of $18.58.

Neogen (NASDAQ:NEOG) last released its quarterly earnings results on Friday, January 10th. The company reported $0.11 EPS for the quarter, beating the consensus estimate of ($0.01) by $0.12. The business had revenue of $231.30 million during the quarter, compared to analyst estimates of $227.16 million. Neogen had a negative net margin of 52.12% and a positive return on equity of 2.89%. The company’s quarterly revenue was up .7% on a year-over-year basis. During the same period in the prior year, the firm posted $0.11 earnings per share. On average, equities analysts predict that Neogen Co. will post 0.38 EPS for the current year.

Neogen Profile

Neogen Corporation, together with its subsidiaries, engages in the development, manufacture, and marketing of various products and services dedicated to food and animal safety worldwide. It operates through two segments, Food Safety and Animal Safety. The Food Safety segment offers diagnostic test kits and related products to detect dangerous and unintended substances in food and animal feed, including foodborne pathogens, spoilage organisms, natural toxins, food allergens, genetic modifications, ruminant by-products, meat speciation, drug residues, pesticide residues, and general sanitation concerns; and AccuPoint Advanced rapid sanitation test to detect the presence of adenosine triphosphate, a chemical found in living cells, as well as provides genomics-based diagnostic technology and software systems that help testers to objectively analyze and store their results and perform analysis on the results from multiple locations over extended periods.